29,950 Shares in Nebius Group N.V. (NASDAQ:NBIS) Purchased by Forge First Asset Management Inc.

Key Points

• Forge First Asset Management Inc. acquired 29,950 shares of Nebius Group N.V. (NASDAQ:NBIS) valued at approximately $632,000 during the first quarter.
• Nebius Group reported a significant year-over-year revenue increase of 385% for the quarter, with earnings of ($0.48) per share.
• Analysts have given Nebius Group a consensus rating of "Buy", with an average price target of $66.80, reflecting a positive outlook for the company.

Forge First Asset Management Inc. purchased a new position in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,950 shares of the company's stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Nebius Group during the first quarter worth about $1,240,000. PNC Financial Services Group Inc. purchased a new stake in Nebius Group in the 1st quarter valued at approximately $198,000. Jupiter Asset Management Ltd. purchased a new stake in Nebius Group in the 1st quarter valued at approximately $380,000. Barings LLC purchased a new stake in Nebius Group in the 1st quarter valued at approximately $1,914,000. Finally, Kazazian Asset Management LLC purchased a new stake in Nebius Group in the 1st quarter valued at approximately $369,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Nebius Group Price Performance

Shares of Nebius Group stock opened at $52.00 on Friday. Nebius Group N.V. has a 1 year low of $14.09 and a 1 year high of $58.16. The company has a market capitalization of $12.26 billion, a P/E ratio of -91.23 and a beta of 3.36. The business has a 50 day moving average price of $48.41 and a 200 day moving average price of $36.53.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.48) earnings per share for the quarter. The business had revenue of $55.30 million during the quarter. Nebius Group's revenue was up 385 on a year-over-year basis. During the same period in the prior year, the firm posted ($0.25) earnings per share. As a group, research analysts expect that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NBIS shares. Northland Securities set a $47.00 price objective on Nebius Group and gave the company an "outperform" rating in a report on Wednesday, May 21st. The Goldman Sachs Group started coverage on Nebius Group in a report on Monday, July 14th. They issued a "buy" rating and a $68.00 price objective on the stock. Northland Capmk raised Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. DA Davidson lifted their price target on shares of Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Arete started coverage on shares of Nebius Group in a research report on Thursday, June 5th. They set a "buy" rating and a $84.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $66.80.

Nebius Group Company Profile

Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company's services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.

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